Amazon.com, Inc. (NASDAQ:AMZN) Stake Lessened by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,164 shares of the e-commerce giant’s stock after selling 449 shares during the quarter. Amazon.com comprises about 2.3% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Amazon.com were worth $7,832,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Norges Bank bought a new position in shares of Amazon.com during the 4th quarter valued at about $27,266,582,000. GAMMA Investing LLC raised its holdings in shares of Amazon.com by 21,420.5% in the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock worth $5,754,425,000 after purchasing an additional 30,104,520 shares in the last quarter. Capital World Investors lifted its stake in Amazon.com by 36.8% during the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock valued at $14,416,078,000 after purchasing an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Amazon.com by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after buying an additional 17,635,391 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock worth $2,652,116,000 after buying an additional 12,018,120 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on AMZN shares. Citizens Jmp dropped their price target on Amazon.com from $285.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Morgan Stanley decreased their target price on Amazon.com from $280.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. BNP Paribas raised Amazon.com from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. Sanford C. Bernstein set a $235.00 price target on Amazon.com and gave the company an “outperform” rating in a research report on Tuesday. Finally, The Goldman Sachs Group dropped their price target on Amazon.com from $255.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $245.60.

Amazon.com Price Performance

NASDAQ AMZN opened at $219.92 on Thursday. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The stock’s 50-day moving average is $205.03 and its two-hundred day moving average is $208.83. The firm has a market cap of $2.33 trillion, a P/E ratio of 35.82, a price-to-earnings-growth ratio of 1.66 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. During the same period last year, the business earned $0.98 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 3,100,000 shares of the firm’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $221.42, for a total value of $686,402,000.00. Following the transaction, the insider directly owned 905,679,901 shares in the company, valued at approximately $200,535,643,679.42. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP David Zapolsky sold 13,570 shares of Amazon.com stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $202.41, for a total value of $2,746,703.70. Following the sale, the senior vice president directly owned 47,030 shares in the company, valued at approximately $9,519,342.30. This trade represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,424,463 shares of company stock valued at $756,747,557. 9.70% of the stock is owned by company insiders.

Amazon.com Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.